DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was unchanged at 41 cents under the December futures contract, while the DTN National Corn Index was up 5 cents at $3.81. The national average basis for soybeans was 1 cent stronger at 74 cents under the November futures contract, while the DTN National Soybean Index was up 4 cents at $9.36. The national average basis for hard red winter (HRW) wheat was steady at 70 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was unchanged at $4.19. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 38 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 1 cent at $5.11.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.81	$0.05	-$0.41	Dec	$0.000
Soybeans:	$9.36	$0.04	-$0.74	Nov	$0.002
SRW Wheat:	$4.37	$0.04	-$0.66	Dec	$0.006
HRW Wheat:	$4.19	$0.00	-$0.70	Dec	-$0.001
HRS Wheat:	$5.11	-$0.01	-$0.38	Dec	$0.004

CORN:

The national average corn basis for Thursday was 41 cents under the December futures, unchanged from Wednesday's basis. PNW basis is steady for October at +110Z and Hereford, Texas, is 5 weaker at +95Z. CIF basis is steady at +82Z and track St. Louis is steady at +14Z. Processors are mixed with Cedar Rapids, Iowa, steady at -24Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is 3 cents stronger at -22Z; Des Moines, Iowa is steady at -20Z; Decatur, Illinois, is steady at -13Z; Mitchell, South Dakota, is steady at -60Z; Blair, Nebraska, is 5 cents stronger at -17Z; Hastings, Nebraska, is steady at -32Z; Lincoln, Nebraska, is steady at -42Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is steady at -18Z; and Marshall, Minnesota, is steady at -47Z.

SOYBEAN:

The national average soybean basis for Thursday was 74 cents under the November futures, 1 sent stronger than Wednesday's basis. PNW basis for Oct. is steady at +80X. CIF basis is 5 cents weaker at +75X and track St. Louis is 1 cent weaker at +9Z. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -15X; St. Paul, Minnesota, is steady at -55X and basis on the Illinois River at Havana, Illinois, is 8 cents stronger at -15X. The Mississippi River at Memphis is at -8.17 feet below zero gauge and draft restrictions of 9'6" are in place. USCG also restricted traffic to one way up or down river at MM709 to MM711. Processors are mixed with Council Bluffs, Iowa, steady at -60X; Des Moines, Iowa is steady at -20X; Cedar Rapids, Iowa, is steady at -40X; Sioux City is steady at -45X; Decatur, Illinois, is steady at option the X; Volga, South Dakota, is steady at -90X; Spiritwood, North Dakota, is 15 cents stronger -85X; Hastings, Nebraska, is steady at -75X; Lincoln, Nebraska, is steady at -75X; Aberdeen, South Dakota, is steady at -115X; Mitchell, South Dakota, is steady at -110X; and Mankato, Minnesota, is 5 cents stronger at -25X. BN secondary shuttle freight for returns is not bid or offered, Oct. is bid plus $600 over against offers of plus $1200 over and FH November is bid plus $600 over against offers of plus $900 over. UP secondary freight for returns is bid plus $500 over against no offers, Oct. is bid plus $500 over against no offers and Nov. is bid plus $100 over against offers of plus $400 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 66 cents under the December futures, unchanged from Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 70 cents under the Kansas City December futures, unchanged from Wednesday's basis. Spot premiums were steady to higher as mills looking for spot needs. Ordinary protein is steady at +95; 11.0% through 11.2% was steady at +100; 11.4% through 11.8% is steady at +115; 12% is steady through 12.2% is steady at +115; 12.4% is steady at +109; 12.6 through 12.8% is steady at +100; 13% through 14% is up 3 at +120. Gulf bid for spot 11% protein was steady at +95Z with no protein bumps. PNW 11.5% is steady at +150Z, while Texas Gulf basis for 11% is steady at +135Z. Egypt bought two cargoes of French origin wheat midweek.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 38 cents under the MIAX Minneapolis December futures, 1 cent stronger than Wednesday's basis. The MIAX Futures Exchange, LLC Floor Trading Summary of spot milling spring wheat cash premiums closed as follows, basis the December MIAX spring wheat futures: 12% proteins was not quoted; 13% proteins are not quoted; 13.5 proteins were unchanged at +100N; 14 proteins were up 25 to unchanged at +145*; 14.5% proteins were down 25 at +150; 15% proteins were unchanged at +250 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 57 cars, which includes 2 train(s). Bid (B), Ask (A), Nominal (N). Minneapolis Daily Spot Grain Prices are Delivered Chicago/Beyond freight.

Mary Kennedy can be reached at mary.kennedy@dtn.com

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